Why Financial Education is Important at Every Stage of Life

When most people think about their money management skills, they think about budgeting, saving or managing debt. Those are important building blocks, but personal finance is also about understanding financial protection that can help families prepare for life’s biggest moments. 

Financial Literacy is a Lifelong Need

During our conversation with Rep. Young Kim, she emphasized that financial literacy is not just for students or young adults. It is something people need throughout every stage of life, from opening a first savings account to preparing for retirement. 

That message is echoed in communities across the country. Kenyata, a financial professional from Indiana, shared that financial education was not widely available in her school or for her parents, leaving her family without guidance on saving, investing or planning for the future. Her story is a reminder that financial literacy can open doors, especially for people who may have been left out of these conversations for too long.

Millennials Face Financial Anxiety

Personal finance is a common trigger for anxiety. For the first time, millennials are beginning to feel more pressure compared to Gen X when it comes to saving enough to retire, having support if they can’t work due to illness or injury, and building a strong emergency fund. Many of those concerns can be addressed by other types of insurance coverage. Even though 45% of millennials are worried about a disabling illness or injury, only 19% say they own disability insurance and only 20% say that they are knowledgeable about it. 

A Good Time to Learn More

Financial confidence is about more than knowing the basics. It is about understanding the options that can help protect your loved ones, support your goals and create more confidence for the future. 

Take time to evaluate your plan, ask questions and learn more about the tools available to you like life insurance, disability coverage, long-term care insurance, and annuities on our Financial Protection 101 hub.

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